The Hawaiian gazette., 1887-12-06

j
! have impaired to the small holdings of the
country. For the cultivation of rice and
| kalo, the Chinese rent the small lands of the
| HawaiiAns. and at figures which would never
! be realized but for them. Take away the
rice plantations from the country and one
! universal cry of discomfort and distress
would emanate from the Hawaiians. 1t is
| also a fact that in their intermarriages with
! the Hawaiians the Chinese make good hus-
bands and fathers.
| The great factor lii the control of this mat
| ter is the fact that the Chinese women as a
rule do not leave China, and if future immi-
| grafton is to depend upon the incoming of a
| certain proportion of women, and this is
vigorously enforced, the problem is solved.
The committee believe that if immigration
is not permitted without at least twenty per
cent. of Chinese women, the restriction will
be reasonable and safe. This will not apply
to the return of residents, for if none but
residents were permitted to return, we should
not have Chinese resident of the country
hardly in fifty years.
The committee have embodied in the bill
herewith returned such amendments rs they
believe will best effectuate the purpose to be
attained. and with these amendments they
recommend the passage of the bill.
1t will be observed that the charges to be
made have been very greatly reduced. The
object of this is to procure practical legisla-
ton. One of the most fruitful sources of
objection to laws, is the fact that discrimin-
ating charges operate as disproportionate
taxation and as such are unconstitutional
Strip the bill of its character as a revenue
measure and reduce the charges sufficient
to cover the expense of working with per-
haps a small margin and that fault IS re-
moved.
WILLIAM r. CASTLE,
GEO. II. DOLE,
II. 2. BALDWIN,
J. u. kAwAINUI.
The report was laid on the table to
be considered with the bill in Commit
tee of the Whole.
The same member presented a report
of the committee on the bonds.
To the Hon. Samuel g. Wilder, President
of the IIegislature-Sir: The select commit
tee to which was referred certain statements,
reports, resolutions, etc, relative to the Ha-
waiian Government per cent. loan recently
placed upon the English market, respectfully
report as follows:
The matter has received their earnest con-
sideration. Several meetings have been
held and considerable testimony has been
taken but the committee are unable TO as
certain all of the facts connected with the
proceedings in London. This arises from
the apparent absolute deaIth of evidence.
One of the duly accredited agents of the
Hawaiian Government in London, Mr. G. w.
MacfaTlane, has returned to Honolulu, and
appeared and testified before the committee,
and although he as we'll aware of the great
dissatisfaction IN Honolulu ut the methods
pursued In London, ana with the accom-
plished results, and it might have been ex
pected that he would have brought full and
complete particulars of all transactions, he
was unable TO acquGInt your committee with
any facts, excepting that certain amounts
had been paid into the hands of Matheson 81
Co., on behalf of the Hawaiian Government
for subscriptions to the loan, amounting in
all to sel96, GOO; that 5 Fer cent. thereof had
been paid to syndicate Gas he had heard),
and E15,000 in addition WAS paid to parties
unknown for Expenses of floating the loan'
etc. It is only just 10 MIR. Macfarane to
state that be demurred to the construction
placed upon the Loan Acts of 1886 on his ar
rival in London, and strongly advised the
procuring of further instructions from Homo
lulu. But it seems to the committee a very
strange thing that the principal should not
know the acts of the agent whereby the
was 10 become bound MIR. Mac
farlane could give no information as to who
composed the syndicate that received 10000
of our money. He knew nothing of the |
terms or parties to the contract by which !
tl5,OOO more was taken from the loan. He |
did know that the expense of floating loans |
on the English market was very much |
heavier than the country had been led to be-
lieve, and as we have found to- our cost. The |
of Foreign Affairs could give no more |
information, except as to some correspondence |
on file i'll the Finance Department. He was
able to inform the committee that for serv-
ices rendered on behalf of the Hawaiian /
Government, there was no agreement to pay
either Mr.. Armstrong or MIR. G. w. Mac |
farlane.
90 far 10 tho cO,,,,,, - t,, 49,, l,,,, A., r,4
with this loan are about as fol- |
ows:
The Loan Acts were passed III 1886. Pend /
ng consideration of the first bill Mr.. Arm
strong while in Honolulu handed to Mr.. |
26, ISSG-a memorandum of |
probable expenses of floating loan on the |
London market. See p. 1 report of q. w.
BY this the total expenses
we're shown to be nearly ~ per cent. This was
lot brought TO the knowledge of the Legis-
at6re of 1886, and it seems unquestionabIe
hat when tho Act was finally passed the
Assembly and country supposed that per
ent. to syndicate and per cent. off from
lar of the bonds, on their issue, covered all
expenses. If the Government had any other
Information it was very carefully suppressed.
t is however a noteworthy fact that the
100000 allowed In the schedule of Section
overs only per cent. on S2,000,000 with no
margin at all for expenses of printing bonds
nd coupons specifically allowed by the Act
r for an issue at 9S per cent. of par of the
onds.
Mr.. Armstrong went to London with full
uthority from the Hawaiian Government to
egotiate the loan (see p. report of Min
ster of Finance) dated October %, 1856. Mr..
|. w. Macfarlane received precisely the
anne authority. OF course this authority
'as subordinate to the law authorizing the
oan, and any departure from the strict in
ent of the law was a violation of the author
y conferred upon the agents. When it was
1und that loan i'll terms of o. S. currency
ould not be ioated upon the London Market
r only with heavy loss, it would seem clear
lat the duty of the agents was to await
lrther instructions; but this was not done.
he loan was fioated, and it must be admit
ID that aside from the matter of charges {
Inside of the law (as we interpret it, the 4;
,sult was creditable as compared with many
her foreign loans placed in London. There ,
,ems to have been great haste to get the l
oney in Honolulu and it is perhaps in part
ecause of the pressure from here that the !
an was pushed ahead without regard to law. {
lstice 10 Mr.. Armstrong also requires the !
IL L